Nigeria’s naira weakened for a ninth straight day against the dollar, making it the worst-performing currency in the first half as a steep devaluation, insufficient dollar liquidity and market volatility hampered efforts to stem its rout. It’s weakened 0.2% to 1,510 per dollar by the close on Thursday, FMDQ data […]

The Minister of Aviation and Aerospace Development, Festus Keyamo, on Thursday in Abuja inaugurated a ministerial task force to address illegal chartered private jet operations in the country, alleging that many of them are used for money laundering and drug trafficking. “There were security and safety concerns raised by these illegal […]

The National Film and Video Censors Board (NFVCB) announced plans to arrest skitmakers releasing online content without approval. The board, led by Shaibu Husseini, issued a social media statement warning filmmakers and content creators to stop producing, promoting, and distributing unapproved content on platforms like Instagram, TikTok, Facebook, and Twitter. […]

Facebook Monetisation: Content Creators Celebrate As Nigeria Becomes Eligible to Earn Money Nigeria is now eligible for Facebook content monetisation beginning Thursday, June 27. After Meta approved the country Several content creators took to Facebook to celebrate the development after seeing the approval on their dashboard The implication is that […]

The Federal Government exported crude oil approximately worth N17tn to seven foreign countries over a period of nine months, Saturday PUNCH has gathered. Recall that the Nigerian Upstream Petroleum Regulatory Commission on Tuesday, June 4, 2024, mandated International Oil Companies to supply crude oil to the 650,000-capacity Dangote Petroleum Refinery. […]

The Naira yesterday depreciated in the parallel market to N1,520 per dollar from N1,510 per dollar on Wednesday. Similarly, the Naira depreciated to N1,510.1 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,510.1 per dollar from […]

The naira on Wednesday exchanged with the dollar at the rate of N1,507.83 at the official foreign exchange (FX) market, on improved liquidity as the country recorded $24 billion inflow in the first quarter of 2024. After the day’s trading, the naira lost 0.47 percent as the dollar was quoted […]

The Central Bank of Nigeria (CBN) on Wednesday announced that it will stop its Price Verification System (PVS) Portal, effective July 1, 2024. This decision comes in light of recent developments in the Nigerian ⁴Foreign Exchange Market. The announcement was made through a circular issued by W.J. Kanya, the acting […]

The naira, Nigeria’s currency remained weak on Wednesday, trading at between N1,498 and N1,505 per dollar at the parallel market, popularly called the black market, despite $24 billion inflows recorded in the first quarter of 2024. During an interview with Bloomberg on Tuesday, Olayemi Cardoso, governor of the Central Bank […]

The Central Bank of Nigeria has reported a $172m increase in direct remittances in one month. The latest CBN data analysed by PUNCH Online showed that the remittances totalled $138.56m in January, $39.14m in February, $104.90m in March, $193.31m in April, and $365.44 m in May 2024. The data indicates […]